The Magnetic Hill Zoo generates an economic impact in the tens of millions of dollars both within the province, and the rest of Canada.
That’s according to a report presented to City Council last night by University of Moncton Economist Pierre-Marcel Desjardins.
He says the total impact is almost $42 million and generates 130 equivalent full time positions in New Brunswick, and 252 across the country.
There is also a $10 million impact on the GDP for New Brunswick, and $15 million dollars for the entire Country.
City Councillor Brian Hicks summed up the general opinion of Council on seeing the report.
“I mean it’s just astonishing to me, the payback that we’re getting for the dollars that we are putting in to the facility,” says Hicks. “So again thank you and goodluck, great numbers to work with.”
The report showed the Zoo provides almost $1 million for the federal government, and a little over $800,000 for the province.
